Regulators Reshape Split

The separation advances, but the FTC, CMS, and state insurance regulators impose conditions tied to PBM contracting, Medicare Advantage bidding, and data sharing between Aetna and Caremark. The deal remains viable, but the final structure is less favorable to CVS shareholders.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.